Stocks to watch today: Dhanlaxmi bank saw no outcome or resolution in their EGM meeting; Media stocks are expected to hog limelight ahead of day 2 of IPL's media rights auction.
The company has signed a contract worth Rs 2,971 crore with Ministry of Defence for supply of Astra Mark-I BVRAAMs and associate equipments to Indian Air Force and Indian Navy.
In the past one week, the stock has gained 18 per cent after the company reported 90 per cent year on year (YoY) jump in consolidated net profit at Rs 3,105 crore for March quarter (Q4FY22).
The counter witnessed three-fold jump in volume with a combined 2.3 million equity shares changing hands on the NSE and BSE.
With this contract, the company's order book position stands at Rs 11,400 crore (net), BDL said in an exchange filing.
The company now holds record for most-subscribed IPO and best-listing day performance
State-owned Canara Bank on Monday said it has appointed S K Majumdar as its chief financial officer (CFO) with immediate effect
The shares of Hindustan Aeronautics, Bharat Electronics, Bharat Dynamics, Mazagon Dock, and Mishra Dhatu Nigam rose 15-30 per cent last year.
If the retail portion is fully subscribed, the government's stake will fall below 75 per cent, making BDL compliant with the 25 per cent public shareholding norms.
Once the stocks conquer 200-WMA, the upside potential is huge.
Experts said the government has timed the HAL share sale well. The stock has more than doubled from its March lows amid strong buying momentum in defence stocks.
This flood in global liquidity allows us the luxury to look beyond the immediate future i.e. FY21 and focus beyond i.e. FY22.
"This decision will offer a great opportunity to the Indian defence industry to manufacture items on the negative list by using its own design and development capabilities," the govt said.
The debt-free status is positive; robust order book and execution will drive earnings
Astra Microwave Products and Walchandnagar Industries were also trading up by over 5% and 3%